Iraq Business News brings you the latest Iraq banking & finance news, with information on developments and opportunities.
USAID through its Provincial Economic Growth Program, today released State of Iraq’s Microfinance Industry, a 52-page report that describes the growth and emerging trends of a microfinance industry that rapidly is building financing systems accessible to all Iraqis. Iraq’s microfinance industry was established seven years ago with financial and technical assistance from the U.S. Agency […]
On July 6, the website of Kurdistan’s Peyamner News Agency reported that Iraq’s second stock exchange had “opened” in the Kurdish city of Erbil. It wasn’t clear what was meant by opening, however. The Erbil Stock Exchange (ESX) was licensed in February and trading is not due to start until later this year. I believe […]
The Iraqi paper Addustour (Constitution) has reported that recent attacks on financial institutions have led some savers to withdraw cash from their bank deposits and keep it hidden at home. At first glance, it might seem that such a trend could potentially lead to runs on the banks or even a breakdown in the payments […]
China's Xinhua News Agency is so far the only source to report on Iraq's new five-year National Development Plan (NDP), announced on Sunday. The plan targets annual economic growth of 9.4 percent and attempts to cut unemployment. The country's 2010-2014 NDP was announced in a televised event in Baghdad attended by top Iraqi officials, including […]
Iraqi police thwarted a bomb attack on a convoy transporting cash to and from Iraq's central bank on Tuesday, detonating it in a controlled explosion after clearing the area, according to a report from AFP. The bomb was planted in a rubbish skip in the Rasheed Street area in the heart of Baghdad, and the […]
Is your business in Iraq or going to Iraq or just thinking about it? Either way our community of subscribers and readers in 112 countries will almost certainly contain people who could become customers or influence buying decisions. Some of them may already be customers. Either way, telling them about your business, keeping your name […]
The assistant of the Central Bank Governor, Ahmad Sultan Al Jamili, said that re-basing the Iraqi dinar is a complicated process. He said that process of dropping three zeros from the currency will take long time.
Iraq’s rapidly growing microfinance industry reached a major milestone this month when the Al-Tadhamun (TDMN) microfinance organization opened its third branch office in the Northern Province of Ninawa. The opening brings the total number of microfinance branches and satellite offices across Iraq to 100 and underscores the success Iraq’s MFI sector has achieved in its […]
Over the last three months, stocks accounting for over half the turnover on the Iraq Stock Exchange (ISX) in the first quarter of this year have been suspended from trading. (See chart. Trading values for the quarter were computed from statistics available in the Rabee Securities Weekly Bulletin, online at http://rabeesecurities.com) Of the first quarter’s […]
Syrian Prime Minister Mohammad Naji Otri and Iraqi Finance Minster Baqir Jabr al-Zubaidi met on Sunday to discuss cooperation and relations between the two countries. Later, Syria's Minister of Finance Mohammed al-Hussein discussed with al-Zubaidi the positive impact of Syrian-Iraqi financial cooperation on economic relations which serve the interest of both countries. Minister al-Hussein stressed […]
An Iraqi Economist said on Thursday that the Central Bank began to reduce interest rates by approximately six percent for loans and four percent for bank deposits, to encourage investments in the country, after a series of robberies that took place recently on Iraqi banks. The expert said: "This shift reflects a new policy of […]
(Sources: Aswat Al Iraq, Reuters) Aswat al Iraq reports that the Iraqi Council of Ministers has decided to approve an agreement that settles Madagascar’s debt to Iraq. Iraq lent the money to Madagascar during the era of ousted dictator Saddam Hussein. “Eighty percent of the debt (i.e. $234,507,234) has been cancelled,” the Iraqi government said […]
